From the separation of its spine and dental businesses to its latest commercial product launch, here are four key developments from Zimmer Biomet in the first quarter:
1. Zimmer Biomet's spine and dental spinoff, ZimVie, completed its separation on schedule March 1. ZimVie is focusing on key growth areas of the spine and dental markets — including implants, surgical tools and digital care technologies — and expects to earn $1 billion in revenue in 2022.
2. The company's WalkAI tool for postoperative recovery launched in March. The device, which integrates with the Mymobility care management platform, uses artificial intelligence to identify patients who may have a lower gait speed 90 days after hip or knee surgery. Patient data is compared to anonymized real-world data from the ZBEdge database.
3. Zimmer Biomet signed a multiyear partnership with Biocomposites to exclusively distribute its Genex bone graft substitute in the U.S. Genex, used in more than 15,000 procedures a year in more than 30 countries, is a biphasic composite designed to balance osteoconductive scaffold strength and allow for optimal remodeling of bone in the body.
4. The company's fourth-quarter sales decreased 2.3 percent year over year, according to a Feb. 7 news release. CEO Bryan Hanson partly attributed the decrease in revenue to COVID-19 surges and challenges related to hospital staffing.